Cushman & Wakefield (NYSE:CWK) Posts Earnings Results, Beats Estimates By $0.01 EPS

Cushman & Wakefield (NYSE:CWK) announced its earnings results on Thursday. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.53 by $0.01, Zacks reports. The firm had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.83 billion. Cushman & Wakefield had a return on equity of 14.69% and a net margin of 2.23%.The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.48 earnings per share.

Here are the key takeaways from Cushman & Wakefield’s conference call:

• Cushman reported strong 2025 results with revenue of $7.1B (+7%), adjusted EPS up 34%, Adjusted EBITDA of $656M (+11%), $293M in free cash flow (>100% conversion), and year‑end net leverage of 2.9x.
• Management reiterated its outlook and three‑year targets: 2026 revenue growth of 6%–8%, 15%–20% annual adjusted EPS growth, expected 60%–80% free cash flow conversion in 2026, and a plan to reach 2.0x leverage by 2028.
• The company recorded a $177M non‑cash impairment to its Greystone multifamily JV due to lower forward earnings expectations, with Greystone now expected to contribute roughly $36M of adjusted EBITDA as a run rate.
• Leadership highlighted an AI‑driven transformation—breaking down data silos, combining proprietary data and AI workflows across advisory and services—to drive cross‑selling, efficiency, and differentiated client offerings.
• Operational momentum continues in capital markets and leasing (Q4 capital markets +15% globally, Americas +19%; leasing hit record quarterly levels), and the company plans a balanced capital allocation of continued hiring and organic investment alongside ongoing deleveraging and potential future buybacks.

Cushman & Wakefield Stock Down 3.1%

Shares of CWK traded down $0.42 during mid-day trading on Thursday, reaching $13.14. The company’s stock had a trading volume of 1,190,311 shares, compared to its average volume of 2,224,179. The company has a market cap of $3.04 billion, a price-to-earnings ratio of 13.65 and a beta of 1.47. The business has a fifty day moving average of $15.89 and a 200 day moving average of $15.74. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.39. Cushman & Wakefield has a 1 year low of $7.64 and a 1 year high of $17.40.

Hedge Funds Weigh In On Cushman & Wakefield

A number of large investors have recently made changes to their positions in the business. Mercer Global Advisors Inc. ADV boosted its holdings in shares of Cushman & Wakefield by 22.1% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 25,106 shares of the company’s stock worth $406,000 after purchasing an additional 4,539 shares during the period. Summit Global Investments purchased a new stake in Cushman & Wakefield in the 4th quarter worth approximately $1,213,000. Caitlin John LLC purchased a new stake in Cushman & Wakefield in the 4th quarter worth approximately $195,000. EP Wealth Advisors LLC acquired a new stake in shares of Cushman & Wakefield during the 4th quarter valued at $466,000. Finally, XTX Topco Ltd grew its holdings in shares of Cushman & Wakefield by 50.6% during the 4th quarter. XTX Topco Ltd now owns 103,631 shares of the company’s stock valued at $1,678,000 after acquiring an additional 34,805 shares in the last quarter. Institutional investors and hedge funds own 95.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Morgan Stanley reissued an “overweight” rating and issued a $19.00 price objective on shares of Cushman & Wakefield in a research note on Friday, January 16th. Wall Street Zen raised shares of Cushman & Wakefield from a “buy” rating to a “strong-buy” rating in a report on Sunday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cushman & Wakefield in a research note on Wednesday, January 21st. Wolfe Research upgraded shares of Cushman & Wakefield from a “peer perform” rating to an “outperform” rating and set a $19.00 target price on the stock in a report on Monday, February 9th. Finally, Zacks Research cut shares of Cushman & Wakefield from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. Six analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $18.56.

About Cushman & Wakefield

Cushman & Wakefield is a leading global commercial real estate services firm headquartered in Chicago. The company provides a wide range of services to occupiers and investors, specializing in transaction management, property management, facilities management and project management. Its clientele spans corporate occupiers, landlords, investors and government entities seeking solutions to optimize their real estate portfolios and operations.

The firm’s core offerings include leasing advisory for office, industrial, retail and multifamily properties, as well as capital markets advice on acquisitions, dispositions and debt and equity placements.